Expert Opinions

Liquid assets

Twenty bridges from Tower to Kew / Wanted to know what the River knew. So wrote Rudyard Kipling in the poem The River’s Tale in 1911. Those who live on the river Thames certainly know what the river knows – or, rather, how lucky they are to live on it.

With the Boat Race in spring, both Londoners’ and the nation’s attention turns to the great grey body of water. New research from Savills reveals that non new-build apartments within 100 metres of the Thames command an average premium of 12.7 per cent over those properties within a kilometre of the river. This premium was highest in south west London where apartments saw an uplift of up to 29 per cent.

But there’s more to it than simply a choice of area, explains Fran Moynihan, head of London waterfront sales for Savills. The price point can depend on the position that the property occupies – facing towards or away from the river. “There’s usually a significant difference in value,” she says. Not all riverside properties are flash new-builds with concierge services. Savills are marketing a three-bedroom apartment in Ruvigny Mansions on Putney Embankment for £1.1m; in easy walking distance of both the Thames Clipper boat service, and Putney Bridge tube station, it is perfectly positioned.

This accessibility is not the only perk of riverside life. The view, too, is essential, says James Hyman, head of residential at Cluttons. “Once you’ve got that view, it can never be taken away, because nobody can build in front of you.” As a result, some properties have dramatically increased in value over the past 15 years. Hyman describes one such house in Shad Thames, which sold for £1.3m in 2002, and is coming back to the market at £4.75m.

The riverside community is changing. Moynihan’s clients are about half domestic and half international, with a mix of nationalities. There are plenty of Middle Eastern buyers heading for the riverside, she says. “Since the referendum we’ve had more Middle Eastern clients taking advantage of the currency exchange, so there’s now quite a lot of Middle Eastern buyers in Battersea and on that central stretch of the river.” They won’t go any further south of the river, she adds, “but a lot of them see the south stretch of the river as part of central London.”

The riverside is popular with domestic buyers too – downsizers, in particular. “It tends to be people downsizing from big houses in prime southwest or central London,” says Moynihan. “They want lateral living, they’re seeing this as a last move, and they want a good entertaining space with an amazing view all on one level.” Otherwise, she adds, it might be families “selling the big house and moving out to the country, but wanting to keep a foothold here as a pied à terre.”

For those working in the centre of town or in the City, location is essential. While some bankers might choose to live in Shad Thames to enable a 30-minute stroll to work, others choose to live further out, and catch the boat to work. According to Sean Collins, co-founder of MBNA Thames Clippers, journey numbers have risen by about a million in three years – largely thanks to the redevelopment of Thames-side neighbourhoods. Matthew Smith, head of Knight Frank’s riverside office confirms Collins’s perspective. “While many Londoners pile on to a sweaty Tube train or wrestle commuters for a space on the bus, those living on the river can enjoy the luxury of taking the Thames Clipper for a more civilised commute.”

As for the most popular bridge, Moynihan puts a bet on Hammersmith – “such a beautiful stretch” – or the “really pretty” Albert Bridge. It’s down to the individual to decide which neighbourhood is just a bridge too far.

On the market

Riverwalk, SW1, £22.5M

This duplex penthouse in the Riverwalk development, Westminster, has unrivalled vistas of the river plus 360° views of London. It has five bedrooms and two balconies, and an interior designed by Spinocchia Freud and Lisa Ronson – including a bespoke Boffi kitchen, a Crestron lighting system, marble-walled bathrooms, direct lift access into the apartment and valet parking. savills.co.uk; knightfrank.co.uk

Taplow, Berkshire, £2.75M

On a private road on the outskirts of Bray village and within easy reach of Maidenhead mainline railway station, this detached family home is set in delightful gardens in excess of three quarters of an acre. With approximately 95ft of river frontage, the house has five bedrooms, three bathrooms, a 51ft reception space, an equally impressive sitting and dining room with doors that open to reveal a conservatory. hamptons.co.uk

Battersea Power Station, SW8, from £1.3M

With stunning views of the river, the Battersea Power Station redevelopment has many different living opportunites from two-bedroom flats to five-bedroom apartments. Surrounded by great restaurants, cafés, shops and leisure activities including Boom Cycle fitness. bpsestates.co.uk

Riverlight Quay, SW11, £1.4M

This two-bedroom, two-bathroom second-floor apartment near Nine Elms has wide views of the Thames. The development has an exclusive residents’ clubhouse that includes a gym, heated swimming pool and designated parking spaces. residential.jll.co.uk

Limehouse Wharf, E14, £1.4M

In a rare Grade II-listed building on Narrow Street, near Canary Wharf, is this magnificent two-bedroom open-plan apartment in a converted warehouse with views towards the river. It has the bonus of basement storage. savills.com